India PMI September 2021


India: Private-sector PMI ticks down marginally in September

October 4, 2021

The composite Purchasing Managers’ Index (PMI) produced by IHS Markit fell to 55.3 in September from 55.4 in August. Nevertheless, the PMI remained above the 50-threshold, indicating an expansion in business activity from the previous month.

The services PMI fell from 56.7 in August to 55.2 in September, as new orders and output increased at a softer clip. That said, on the manufacturing side, the PMI increased to 53.7 in September from August’s 52.3, due to healthier expansions in output, new orders, and headcounts were virtually stable.

Commenting on the latest PMI data, Pollyanna De Lima, economics associate director at IHS Markit, said:

“While forecasts of better demand in the year ahead supported business confidence regarding output, growth looks set to be constrained by rising inflation expectations. We saw a substantial decline in positive sentiment among service providers due to this factor, despite input cost inflation retreating in September.”

FocusEconomics panelists see fixed investment rising 13.4% in FY 2021, which is down 0.2 percentage points from last month’s forecast, and growing 8.0% in FY 2022, which is up 0.2 percentage points from the previous month’s projection.

Author:, Economist

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India PMI Chart

India PMI September 2021

Note: Purchasing Managers’ Index (PMI). Readings above 50 indicate an overall increase compared to the previous month, and below 50 an overall decrease.
Source: IHS Markit.

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